Arbeitspapier
Household consumption and the housing net worth channel in Ireland
The performance of the Irish economy over the period 2002-2019 varied considerably, with a credit-led boom up to 2007 being followed by a sharp fall in economic activity and house prices in the following five years. This provides a valuable sample for investigating the relevance of the housing net worth channel to consumption developments. The evidence presented here indicates the channel being active during the 2007-2012 downturn with a fall in house prices causing a decline in consumption. It does not have an impact outside that downturn. Consequently, the results add to the international evidence of how an accumulation of household debt and a downturn in house prices has a substantial adverse impact on consumption.
- Sprache
-
Englisch
- Erschienen in
-
Series: ESRI Working Paper ; No. 710
- Klassifikation
-
Wirtschaft
Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
Macroeconomics: Consumption; Saving; Wealth
Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand
- Thema
-
housing net worth channel
consumption
household debt
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Cronin, David
McQuinn, Kieran
- Ereignis
-
Veröffentlichung
- (wer)
-
The Economic and Social Research Institute (ESRI)
- (wo)
-
Dublin
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Cronin, David
- McQuinn, Kieran
- The Economic and Social Research Institute (ESRI)
Entstanden
- 2021
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